Cuyahoga County Residential Income Sellers: The Market Just Sent a Warning Sign

223 price reductions. 157 sales.

That happened in the Cuyahoga County residential income property market in just the last 30 days.

More sellers reduced their price than actually sold their property.

If your residential income property is currently for sale, that should get your attention. The market has shifted, buyers have pulled back, inventory is building, and sellers are now competing harder for fewer transactions.

Here's what the last 30 days look like:

• 277 new listings hit the market.

• 157 residential income properties sold.
  223 sellers reduced their asking price.
  42 listings expired without selling.
  584 active listings are currently on the market.
  

Those aren't signs that residential income properties have stopped selling. They are signs that the rules have changed. And sellers who recognize that early have a major advantage over sellers who keep waiting for the market to come to them.